Bear time
After 7 days walking along the support line, DOW broke down with VOL when the GE news hit the market. We should be able to call out an alert then CCI stepped down into sub 100 area about 2 days before this drop, oh well, I missed that. Have to say my previous prediction for a squeeze was wrong at that time, and that prediction should had a death sentence on Apr. 7.
MACD is posing for a dead cross (crossing right now) and RSI turns its head down. MA50 can’t even hold the fall last Friday. Now we’re looking for a support around 12200 level to maintain the stand ground for bulls. Bears are running the show now, especially major ERs are coming out next week. My own system gave out a sell signal on last Friday’s chart, the last buy signal was on Mar. 18th. I think I should have tuned my system to use CCI to point out a short entry in the future…
